An axiomatic approach to ε -contamination

Kiyohiko G. Nishimura, Hiroyuki Ozaki

研究成果: Article

28 引用 (Scopus)

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Suppose that an economic agent is (1-\varepsilon) \times 100% certain that uncertainty she faces is characterized by a particular probability measure, but that she has a fear that, with \varepsilon \times 100% chance, her conviction is completely wrong and she is left perfectly ignorant about the true measure in the present as well as in the future. This situation is often called " varepsilon -contamination of confidence." The purpose of this paper is to provide a simple set of behavioral axioms under which the decision-maker's preference is represented by the Choquet expected utility with the varepsilon -contamination of confidence.

元の言語English
ページ(範囲)333-340
ページ数8
ジャーナルEconomic Theory
27
発行部数2
DOI
出版物ステータスPublished - 2006 2 1
外部発表Yes

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ASJC Scopus subject areas

  • Economics and Econometrics

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